Waldron Private Wealth LLC Takes Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Waldron Private Wealth LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,118 shares of the asset manager’s stock, valued at approximately $244,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Financial LLC raised its position in shares of T. Rowe Price Group by 48.6% in the second quarter. Summit Financial LLC now owns 2,995 shares of the asset manager’s stock worth $345,000 after buying an additional 979 shares in the last quarter. Barlow Wealth Partners Inc. increased its position in shares of T. Rowe Price Group by 0.9% in the second quarter. Barlow Wealth Partners Inc. now owns 57,241 shares of the asset manager’s stock worth $6,547,000 after purchasing an additional 514 shares during the last quarter. Essex Financial Services Inc. lifted its position in T. Rowe Price Group by 21.2% during the second quarter. Essex Financial Services Inc. now owns 2,348 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 411 shares during the last quarter. Confluence Wealth Services Inc. grew its position in T. Rowe Price Group by 39.3% in the second quarter. Confluence Wealth Services Inc. now owns 11,127 shares of the asset manager’s stock worth $1,283,000 after acquiring an additional 3,137 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in T. Rowe Price Group by 128.5% in the second quarter. Van ECK Associates Corp now owns 86,387 shares of the asset manager’s stock valued at $9,961,000 after acquiring an additional 48,574 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on TROW. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. TD Cowen cut their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Barclays initiated coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $113.10.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $106.04 on Monday. The stock has a market cap of $23.60 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.69 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The firm’s 50-day moving average is $111.93 and its 200 day moving average is $113.92.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.02 EPS. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.